Deribit's Open Bitcoin Options Position for March Expirations Hits Record High of $9.5 Billion

More than $9.5 billion worth of open bitcoin options contracts on the Deribit cryptocurrency derivatives exchange are set to expire this Friday, making the late-March expiration the largest in Deribit's history. In a report, Deribit analysts said, "This Friday is one of the largest expiration dates in Deribit's history, with $9.5 billion, or 40 percent, of the $26.3 billion worth of open bitcoin options contracts set to expire." Deribit analysts added that the current situation means that a large number of options contracts are profitable due to Bitcoin's recent price rise, which could lead derivatives traders to seek to hedge their positions or speculate on further price action